Explosive Burn Rate Sends SHIB Supply Plummeting

The Shibburn blockchain tracker has reported an astonishing 857% surge in SHIB’s burn rate, with over half a billion meme coins permanently removed from circulation.

Despite this aggressive burn initiative, the second most popular meme cryptocurrency has only managed to regain around 4% of its value this week after suffering recent losses.


Massive SHIB Burn, But Is It Enough?

Over the last seven days, a total of 551,362,754 SHIB tokens were transferred to dead wallets, effectively reducing the circulating supply. The most significant burn occurred on March 15, when a massive 459.3 million SHIB was incinerated in a single transaction. That day, the daily burn rate skyrocketed by 27,660%! 🚀

However, the momentum quickly slowed down, with the daily burn rate plummeting by 75.68% in the last 24 hours, accounting for only 2.3 million SHIB destroyed.

The ultimate goal of SHIB’s burn strategy is to drastically cut the circulating supply, making SHIB increasingly scarce and valuable. The SHIB community dreams of a $1 price milestone, or at least reaching $0.01.

According to Shibburn’s official data, a staggering 410.7 trillion SHIB has already been burned. Additionally, 4.9 trillion SHIB is currently staked, meaning it is temporarily out of circulation. Despite these efforts, the circulating supply still stands at 584.3 trillion SHIB.


Shibarium’s Role in SHIB’s Burning Mission

Two days ago, the Shibarium Updates X account, closely linked to the SHIB development team, reassured the community that Shibarium’s Layer-2 solution will continue contributing to SHIB burns.

A tweet from the account reminded holders that SHIB burns are directly tied to transactions happening on Shibarium, as gas fees are paid using the BONE token.

Here’s how it works:

  • 30% of gas fees will go towards Shibarium’s development.

  • 70% of gas fees will be converted into SHIB and permanently burned.


The SHIB team also provided a live burn tracker, revealing that 13.2 million SHIB is currently set for destruction in upcoming transactions.


Will This Be Enough to Boost SHIB's Price?

While the massive 857% burn increase is a step in the right direction, the sheer size of SHIB’s supply still poses a major challenge. To reach $0.01 or even $1, SHIB’s burn mechanism would need to operate at an unprecedented scale.

For now, the Shiba Inu community remains hopeful, keeping a close eye on Shibarium’s role in accelerating supply reduction and boosting demand for the meme coin. 🐕🔥🚀

#SHIB , #Shibburning , #CryptoNewss , #Shibarium , #memecoin🚀🚀🚀


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